Community Health to buy Health Management for $3.9 billion

(Reuters) - Community Health Systems Inc , the second-largest for-profit U.S. hospital operator, said on Tuesday it would buy smaller rival Health Management Associates Inc for $3.9 billion to strengthen its base, as the country's healthcare system transforms under President Barack Obama's overhaul.

Community Health would pay $13.78 per share in a combination of cash and its own stock.

Both chains operate hospitals primarily in smaller cities and rural areas. Health Management has a strong focus in the U.S. Southeast, including Florida.

(Reporting by Susan Kelly in Chicago and Caroline Humer in New York; Editing by Gerald E. McCormick)

Source: http://news.yahoo.com/community-health-buy-health-management-3-9-billion-111105172.html

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